4 ms·

Logistically, this is the stupidest way to bribe someone. There is a clear paper trail and everyone knows about it. The wealthy have dozens of highly discrete w

Logistically, this is the stupidest way to bribe someone. There is a clear paper trail and everyone knows about it. The wealthy have dozens of highly discrete ways to legally transfer money to each other. Also given the number of speaking engagements every year, how likely is it that all or most of them are "bribes"? Corporate speaking fees are Cameo for very rich people. They pay a less-than-rounding-error amount of money to have someone famous show up and interact with them. Similar to me paying Perez Hilton $50 on Cameo to record a message for my buddies. It doesn't make a lot of financial sense to pay someone famous to talk to you. but people do it anyway, because people pay for rare experiences. Brief association with fame has a direct financial value, it always has. You don't need a conspiracy to explain that.

adamnemecek 6y ago
There’s a paper trail regardless. It’s not similar if the person in power enacts laws that directly benefit the person who paid for the speech. Association with fame has relatively small value.
jb775 6y ago
Have you never watched a drug smuggler movie? Half the headaches are trying to launder the money. Speeches are the best way to bribe someone. Once they give the speech, it's "services rendered". There's no shady money transfers to explain, since it's all out in the open. There's no risk of fraud. There's no way to be caught in a lie, because the entire payment is pegged to physically speaking in front of a group, which they actually did do. The only questionable thing is the amount paid, which is subjective.
- hooande 6y ago
  Discretion is part of a bribe's value proposition. The existence of this post is why public speaking fees are a horrible vehicle for corruption. You have people complaining and asking for recusal. It's negative publicity and a hindrance to corrupt acts. At Yellen's level, access to information is what has the most value. That's how I would bribe someone like that. No paper trail
  - _qulr 6y ago
    > You have people complaining and asking for recusal. It's negative publicity and a hindrance to corrupt acts. A lot better than prison though.
  - treis 6y ago
    >You have people complaining and asking for recusal. It's negative publicity and a hindrance to corrupt acts. It's hard to look at the past decade or two and think there was a hinderance to corrupt acts. Sure, people complain but rich people got their tax breaks, Wall St. gets friendly policy, and mega corps get bailed out. The system is clearly working for those involved.
_qulr 6y ago
> Logistically, this is the stupidest way to bribe someone. There is a clear paper trail and everyone knows about it. In other words, it's perfectly legal bribery, and thus the smartest way to bribe someone. Just like political campaign contributions. Why risk illegal bribery when you can go the safe route, where everyone knows, but nobody goes to jail?

adamnemecek 6y ago

There’s a paper trail regardless. It’s not similar if the person in power enacts laws that directly benefit the person who paid for the speech. Association with fame has relatively small value.

jb775 6y ago

Have you never watched a drug smuggler movie? Half the headaches are trying to launder the money. Speeches are the best way to bribe someone. Once they give the speech, it's "services rendered". There's no shady money transfers to explain, since it's all out in the open. There's no risk of fraud. There's no way to be caught in a lie, because the entire payment is pegged to physically speaking in front of a group, which they actually did do. The only questionable thing is the amount paid, which is subjective.

hooande 6y ago
Discretion is part of a bribe's value proposition. The existence of this post is why public speaking fees are a horrible vehicle for corruption. You have people complaining and asking for recusal. It's negative publicity and a hindrance to corrupt acts. At Yellen's level, access to information is what has the most value. That's how I would bribe someone like that. No paper trail
- _qulr 6y ago
  > You have people complaining and asking for recusal. It's negative publicity and a hindrance to corrupt acts. A lot better than prison though.
- treis 6y ago
  >You have people complaining and asking for recusal. It's negative publicity and a hindrance to corrupt acts. It's hard to look at the past decade or two and think there was a hinderance to corrupt acts. Sure, people complain but rich people got their tax breaks, Wall St. gets friendly policy, and mega corps get bailed out. The system is clearly working for those involved.

_qulr 6y ago

> Logistically, this is the stupidest way to bribe someone. There is a clear paper trail and everyone knows about it. In other words, it's perfectly legal bribery, and thus the smartest way to bribe someone. Just like political campaign contributions. Why risk illegal bribery when you can go the safe route, where everyone knows, but nobody goes to jail?